Strategic Management

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Strategic Management has evolved rapidly in response to dynamic global environments, technological advancements, and ever-changing business models. It is crucial in guiding organizations through complexities and enabling them to achieve...

Name : Strategic Management
Vendor : Prashant Publication
Type : M. COM. PART I SEM II
Barcode : 978-93-49325-63-0

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Strategic Management has evolved rapidly in response to dynamic global environments, technological advancements, and ever-changing business models. It is crucial in guiding organizations through complexities and enabling them to achieve long-term goals by formulating, implementing, and evaluating strategies effectively.

This book, titled “Strategic Management”, has been meticulously prepared per the latest syllabus introduced by Savitribai Phule Pune University for the M.Com. program (Semester II) under the National Education Policy 2020 framework. The objective of this book is to provide students, faculty members, and researchers with a comprehensive and practical understanding of strategic management concepts, frameworks, and real-world applications.

Key features of this book include:

• Detailed coverage of core concepts such as vision, mission, environmental scanning, strategic formulation, implementation, and evaluation.
• Inclusion of real-life examples and case studies to bridge the gap between theory and practice.
• Simplified language for better comprehension, while maintaining academic rigor.
• Thought-provoking questions and exercises at the end of each chapter to reinforce learning and critical thinking.
This book aims to empower students with the analytical tools and strategic thinking required in today’s competitive business environment. It will also serve as a valuable resource for educators and professionals seeking insights into strategic decision-makingand organizational effectiveness.
I extend my sincere gratitude to the mentors, colleagues, and industry experts whose guidance and feedback greatly enriched this work. Special thanks to Prashant Publication, Jalgaon, for their continuous support in bringing this book to publication.
It is my hope that this book will inspire students to delve deeper into the discipline of strategic management and apply their learning to real-life business challenges. I welcome suggestions and feedback from readers to further improve future editions.

1. Introduction to Strategic Management…………………………….9
1.1 Strategy
1.1.1 Introduction
1.1.2 Concept of Strategic Management
1.1.3 Definition of Strategic Management
1.1.4 Evolution of Strategic Management
1.2 Characteristics of Strategic Management
1.3 Dimensions and Approaches to Strategic Decision Making
1.4 Strategic Management Process
1.4.1 Steps in Strategic Management Process
1.5 Components of Strategic Management
1.6 Model Policies
1.6.1 Strategic Management and Policy
1.7 Role of Top Management
1.7.1 Role of Top Management in Strategy Formulation
1.7.2 Role of Top Management in Strategy Implementation
1.8 Strategic Implications of Social and Ethical Issues
2. Strategy Formulation, Strategic Analysis and Strategic Planning…………………………………………………………36
2.1 Organizational Goals, Mission and Social Responsibility
2.1.1 Introduction
2.1.2 Organizational Goals
2.1.2.1 Definition of Goals
2.1.2.2 Classification of Goals
2.1.2.3 Importance of Goal Setting
2.1.2.4 Characteristics of Effective Goals
2.1.2.5 Advantages of Goals
2.1.3 Organizational Mission
2.1.4 Vision
2.1.4.1 Importance of Vision
2.1.5 Organizational Social Responsibility
2.2 Analysis of Business Environment
2.2.1 Definition of Business Environment
2.2.2 Features/ Characteristics of Business Environment

2.2.3 Components of Business Environment
2.2.3.1 Internal Environment
2.2.3.2 External Environment
2.2.4 Methods and Techniques of Analysis of Business Environment
2.2.4.1 Analysis of Internal Business Environment
2.2.4.2 Analysis of External Business Environment
2.3 Internal analysis for Strategic Advantage
2.3.1 Strategic Advantage Analysis
2.3.2 Tools of Internal Analysis
2.4 Strategic Planning
2.4.1 Meaning of Strategic planning
2.4.2 Steps in Strategic Planning
2.4.3 Alternatives for Strategic Planning
2.4.4 Advantages of Strategic Planning
2.4.5 Disadvantages of Strategic Planning
2.5 Designing an effective strategic Plan
3. Strategic Choices and Strategy Implementation…………….76
3.1 Generating Strategic Alternatives for Stability, Growth and Sustainable Strategies
3.2 Evaluation of Strategic Alternatives for Developing Product Portfolio Models and Selection of Suitable Corporate Strategy Implementation Issues
3.3 Planning and Allocation of Resources Organizational Structures – Factors affecting the choice
3.4 Degree of Flexibility and Autonomy
4. Functional Strategy and Strategic Review……………………..92
4.1 Knowledge and Formulation of Functional Strategy for Marketing Environment Sustainability
4.2 Evaluation of Strategic Performance – Criteria and Problem Concept of Corporate Restructuring
4.3 Business Process Reengineering, Benchmarking, TQM and Six Sigma
4.4 Chankyaniti – A Case Study Approach
References………………………………………………………………………..121